$64 question. RadioShack (recently RSHCQ) common stock is worthless and cancelled as of this afternoon. RS Legacy Corp just said it will soon file a Form 15 to go dark. But what about RadioShack's $300 million in outstanding defaulted bonds?
Morningstar currently shows a feeble quote for them (about $0.25 on $100 face amount). Will the bonds still trade? They have been in default for the past year. I know that ancient and nearly hopeless bonds, such as Russian Czarist debt pre-1917 still trade a century after they were issued. A few were even paid off not long ago.
So what's the story on RadioShack bonds. No I don't own any. Yes, I know there is zero chance bondholders will ever see another payment from the defunct corporation. Just wondering whether the stock cancellation by the court and the Form 15 shuts down the bond trading.
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